NOTE: Please be advised that at times front month contracts can be rolled earlier then stated in the calendar due to low volume or forced rollovers from the exchange. Any early rollover is due to lack of activity on the expiring contract and the Exchange has the right to change this date should the need arise.

RISK WARNING: CFDs are leveraged products that incur a high level of risk and can result in the loss of all your capital and may therefore not be suitable for all investors. You should not risk more than you are prepared to lose and before deciding to trade, please ensure you understand the risks involved, take the level of your experience into consideration and seek independent advice if necessary. We strictly do not provide investment advice. To read our full risk disclosure statement, please click here.

CLIENT AGREEMENT

1. Introduction

1.1 ECN Capital Global Ltd. is a Company that was incorporated in Trust CompanyComplex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. Theterms of this Agreement, along with the Company's Risk Disclosure Document (the"Agreement"), shall govern over the relations between the Client and the Companywith respect to the execution of foreign exchange, shares, indices and other financialinstruments rates ("Forex Trading"), through the Company's Trading Platform suppliedto the Client by the Company (the: "Trading Platform") and any other service providedby the Company to the Client (the "Company's Services").

1.2 The Company shall set rules and instructions relating to the Client's account and tradingconditions in the account, including, without limitation, regarding minimum accountsize, minimum account activity, fees, bonus terms, leverage limitations, rules relatingmargin requirements, and the Company shall be entitled to change the said rules andinstructions from time to time.

2. The Trading Account

2.1 The Company will open a Trading Account (the "Trading Account") for and on theClient's name, subject to the registration of the Client with the Company according tothe Company's requirements, including providing complete and accurate Clientinformation as required for the opening of the Account, and by presenting identificationdocuments including a copy of an identification certificate, passport, a copy of creditcard from both its sides, in case the deposit was made by credit card (Client may hidethe credit card number except for the last four digits, and may also hide the CVV code,at the back of the card), and a valid (recent three months) proof of address, by presentinga government vendor or other utility bill (water, city tax, electricity, 'etc.). The Clientauthorizes the Company to rely and act according to any request, guideline or othermessage appeared to be from the Client, without further examination by the Companyas to the authenticity, veracity, or the identity of the person who delivers or purportingto deliver such request, guidance or message. The Client undertakes to provide correctand complete information regarding itself. The Client must report to the Companyimmediately in case of any change in the information the Client had provided to theCompany.

2.2 The Company may, according to its sole discretion, act as a mediator and ensure thecoverage of Client transactions by different brokers, and also to act as a market makerand be the counterparty to the transaction of the Client. The Company shall not serve asan agent or trustee of the Client or on his behalf under any circumstances. The Clientacknowledges that he/she is acting for himself and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that he/she will be directly and fullyresponsible for performing his/her obligations under this Agreement, including withrespect of any Transaction made by or on behalf of the Client. The Company shall notaccept any other person as an indirect Client with respect of this Agreement and shallaccept no obligation to any such person unless otherwise expressly agreed in writing.

2.3 Usage of the Trading Platform is according to a limited, personal, non-transferable andexclusive license granted to the Client. The Client is not permitted to transfer and/orassign and/or allow another person to use the license and/or act in the Client's Accountto someone who is not a Client, and/or transfer the username and password to theAccount to any other person.

2.4 The use of the Trading System and Company's Services is personal permitted above theage of 18 only. The Client must ensure that there is no legal or other obstacle to its saidactivity, and that the Client has fulfilled any legal requirement needed for the use ofthese services.

3. Margin Funds

3.1 As a condition for performing transactions in the Company's Platform, the Client mustprovide to the Company sufficient margin to secure the results of the trading in theaccount. The Funds shall be used as for Transactions, including trading Losses,commissions and/or any other fee owed by the Client to the Company, which will beautomatically deducted from the Client's Trading Account. The Client's Funds shall notaccumulate any interest or any other rights (except for rollover or swaps interest, asdefined below). Trading in CFD’s (Contracts For Differences), binary options or othertrading methods that relate to an underline security, shall not grant the Client any rightto dividends, voting, allocation or other Benefits, but may be subject to adjustmentsaccording to financial events which affect the underlining security, such as distributionof dividends, stock price splits etc.

3.2 Deposits of funds to the Company is available by different methods of payment and indifferent currencies as agreed upon by the Company from time to time, and the TradingAccount shall be converted and managed in the Trading Platform in US Dollars or Euro,as applicable, according to the exchange rate determined by the Company according tothe such rates as published in the same day. The Company uses funds clearing andtransfer solutions of different suppliers, and may receive or transfer the funds through athird party, subject to the applicable law.

3.3 According to Anti-Money-Laundering laws and regulations, when making a deposit bybank transfer or credit card, the Client is required to use his/her own Bank account only.The Client must send the Company an authentic SWIFT confirmation, stating the fulldetails of the transmitting Bank account. Non-delivery of the SWIFT confirmation orin case the details do not match to those of Trading Account, may prevent the fundsfrom being deposited to the Trading Account.3.4 When making a funds transfer to the Company by cheque or other payment methodspermitted by the Company, the Client will be required to be identified according to theCompany’s regulations and the applicable law. The Company does not accept funds incash.

3.5 The Company will maintain and act in the Client Funds carefully. The Company shallhave the right to use Client's funds to 'cover' the Client's transactions, to cover theClient's obligations as a result of the Client's trading activity and/or on according to theCompany's sole discretion, subject to Company's contractual obligation to pay or refundmoney to the Client according to the terms of this Agreement. Determining the amountof Margin required and the Client's obligations towards the Company shall be accordingto the Company's sole discretion.

3.6 When withdrawing funds from the Trading Account by the Client, the withdrawal willbe made in the same currency and to the same account and/or credit card from whichthe funds were originally deposited, unless the Company has decided, according to itssole discretion, to transfer the funds to a different account.

3.7 The Client warrants and obligates that the Margin funds do not originate from anycriminal or illegal activity and are without violation of Anti Money Laundering lawsand regulations in the world.

3.8 The Company may, at any time and according to its sole discretion, block the activityin the Client's Trading Account if it suspects of any act of fraud, cheating, forgery and/orany breach of law or this Agreement by the Client.

3.9 The Client shall have no claim and/or demand against the Company and will not holdthe Company responsible for any delay and/or differences in rates custom at financialinstitutions such as credit card Company's banks.

3.10 Withdrawal requests should be submitted through the Company's website. TheCompany does not obligate to process withdrawal requested transmitted by any othermeans.

3.11 In case of a withdrawal request made by the Client, the Company shall transfer therequested amount (less any transfer fees, if applicable) within Seven (7) Business Daysfollowing the day the Client was identified by the Company subject to the Marginrequirements, as set by the Company, in full.

3.12 The Company is allowed to cancel the withdrawal request of the Client if, according tothe Company's discretion, the remaining balance (after the withdrawal) is not sufficientto guarantee the open trades in the Trading Account.

3.13 If there has been no trading activity in the Client's account, the Company will charge afee of 5% of the deposit amount upon the withdrawal of all of the deposit in addition toany other fees determined in this Agreement.

3.14 The Client hereby entitles the Company to collect from the Trading Account any feespayments owed to the Company. If the Client does not have sufficient funds to cover itsliabilities, the Client must deposit additional funds immediately upon demand by theCompany, otherwise the Company may close the transactions in the Client's Account.

3.15 The Company shall not provide physical evidence in relation to any Transaction. Profitsand/or losses will be considered as completed only after the Transaction is closed.

4. General Bonus Policy

4.1 The Company may, according to its sole discretion, grant the Client with a tradingbonus in his/her account. Unless otherwise determined, the terms of this chapter willapplied to the bonus.

4.2 The bonus will be calculated as a certain percentage of the deposit. The bonus willbe granted as onetime bonus with respect to such deposit and in such way asdetermined by the Company.

4.3 The bonus will become withdrawable subject to the execution of 1 traded Lot per5$ out of the bonus.

4.4 The Client may withdraw the bonus (in whole or in part) and/or profits from theTrading Account, provided that the Client has traded the full amount of Lotsrequired to make the Bonus eligible to withdrawable (the "Target"). Eachwithdrawal shall be first considered on the account of profits and then after from thebonus.

4.5 If the Client wishes to withdraw the deposit funds from the Trading Account beforeachieving the Target, the withdrawal would be made available, however the Bonusand the profits in the Trading Account will be cancelled and/or forfeited by theCompany.

4.6 The Company may change the terms of the Bonus at any time. Notice will beprovided to the Clients by E-mail or posting a message on the Company's website.

4.7 Any transaction during and after the Bonus period that breached the terms of thisAgreement, will result in the cancellation of the entire Bonus according to the solediscretion of the Company.

5. Social Trading

5.1 At the request of the Client, the Company shall activate “social trading” service in theClient’s account, as provided by a third party (herein after: “Sirix” or the “System”).

5.2 Sirix allows the Client to observe and activate in his account transactions accordingto actual transactions conducted by other Client of the Company and third parties(the "Traders"). Choosing the Trader is done exclusively by the Client, as well asthe commencement and termination of following the Trade's account.

5.3 There are two options to copy the Trader's transactions: (1) by a fixed volume,regardless of the volume of the original transaction; Or- (2) by allocating an amountavailable for copying, unrelated to the Trade's transaction, and the ratio between theTrader's transaction and the transaction executed in the Client's account shall bydetermined according to the ratio between the amount allocated to the Client'stransaction and the volume of the Trade's transaction.

5.4 The Client has, at any time, the option to independently close any transaction, oralternatively, through the trading room.

5.5 Trader's Rating or past performance or any other information published inconnection with the Trader, shall not be considered as advice, promise or guaranteeof future success. The Company may direct or present to the Client specific Traders,without the aforementioned being considered as a recommendation to follow anyspecific Trader and/or for making use of the System. The Company is not engagedin any arrangement with any of the Traders within the system.

5.6 Trading based solely on copying other Traders is not recommended.

5.7 The Company does not guarantee that all of the Trader's trading orders shall alwaysbe correctly copied and/or executed in the Client's account, including orders to openor close a transaction. Therefore, the Client should carefully monitor the opentransactions in his Account.

5.8 The Client is full responsible to perform ongoing monitoring over his Account andthe risk level to which the Account is exposed. The Company does not superviseover the performance of the service and/or Traders, trading methods being taken,trading volume, suspension of trading by the Trader etc., and is not obligated to alertthe Client of any risk; The full responsibility for the Transactions in the Client'saccount is on the Client, and the Client hereby waives, in advance, any claimsregarding the results and/or the scope of activity in his Account with respect tofollowing Traders.

5.9 The information, content and services in Sirix are offered "as is" and the Companyand its representatives shall not bear any responsibility for the services suitability tothe Client's needs or goals. The Company does not guarantee the quality andaccuracy of information, fitness for any purpose, completeness, reliability,integration and compatibility to any computer program on the Client's computer,and does not guarantee that use of the services will be uninterrupted and/or will beimmune to disorders and/or failures and/or malfunctions and/or any damage.

6. Fees & Charges

6.1 The Company charges a fee for the execution of Transaction on several FinancialInstruments offered by the Trading Platform. The Fee varies according to the Clientclassification by the Company. In addition, the Company derives revenue from thespread on Transactions (i.e. the difference between buy/sell price quotes offered bythe Trading Platform to the Client). It is the Client’s responsibility to decide whetheror not to trade at such prices.

6.2 Accounts defined as Islamic accounts shall be charged with a fee if hold opentransactions over two days. At each third night from the transaction opening theClient's account will be charged a commission of the Spread amount of the opentransaction.

6.3 Company may charge a commission for depositing of funds to the Trading Accountand withdrawals to the Client. The Company may introduce additional fees andcharges, and may change existing fees and charges at any time

6.4 Inactive Trading Account - In case the Client has not performed any trading activityin his/her Account for such period of time determined by the Company or the tradingactivity is at low level according to the Company's determined standards and/or ifthe Client does not hold the required minimum amount of funds in his TradingAccount as determined by the Company from time to time, the Company maycharge the Client with administrative fees of 5% or 25Euros or USD (according tothe currency in which the account is operated), whichever is higher. The time periodwhich will classify the Client's Account as inactive shall be calculated from the dateof opening or closing of the last transaction in the Client's account. The Companymay change the terms and rules under this section, including the duration by whichthe account will be defined as inactive, the level of activity in the account that shallbe classified as a low level of activity, minimal amount of funds that the Client isrequired to hold in the Trading Account, as well the size of commission for inactiveclassified account.

7. Trading Terms

7.1 The Trading Platform provided by the Company enables trading in exchange rates ofdifferent currencies, and CFD's of different Financial Instruments made available on theCompany's Platform (all herein: "Financial Instruments"). When using the TradingPlatform, the Client is being displayed with ask and bid prices for performingtransactions in Financial Instruments based on prices received from different financialinformation systems as inductive trading prices on the markets. For determining thetrading prices, the platform is making mathematical calculations according to knownand accepted formulas.

7.2 Transactions are automatically renewed every night at 22:00 GMT by the TradingPlatform server's clock that is automatically synchronized according to Cyprus time.

7.3 A Transaction is ended in any of the following events:

7.3.1 The Client initiated the closure of the Transaction

7.3.2 The Transaction rates meets with predefined stop loss, take profit or othercriteria set by the Client or the Company under the terms of this Agreement.

7.3.3 The Transaction expiry date has been reached, in certain transactions, as set bythe Client or the Company, according to the case.

7.3.4 The Client does not have sufficient funds in the Account therefore theCompany shall perform an enforced closing of Transactions, according tothe Company's sole discretion, for purposes of compliance with the tradingmargin requirements set by the Company to the Client.

7.4 The Client may submit orders via the Trading Platform that was supplied to the Clientby the Company or by written orders (including fax), E-mail or via other electronicinstrument or verbally (including via telephone), unless the Company informs the Clientthat a particular order can only be submitted in a particular way.

7.5 The Company does not permit execution of opposite Transactions simultaneously,Transactions based on market differences, during information publications(macroeconomic notices), prices freeze, suspension of trading, price or timemanipulation transactions, including illegal scalping and exploitation of arbitragebetween different systems, as well as Transactions found by the Company as an attemptto perform such forbidden Transactions.

7.6 The Client authorizes the Company to rely and act according to any order, request andinstruction provided by the Client or any person authorized on the Client's behalf,without further enquiry on the part of the Company as to the authenticity, correctnessof authority or identity of the person providing or purporting to provide such order.

7.7 If the Client requests to cancel any order, the Company can only cancel such orders ifit has not already acted upon such order, or if otherwise agreed by the Company.

7.8 The Company has the right, but not the obligation, to set limits and/or certain parametersin relation to the Client's account and the trading orders, at its absolute discretion. Suchlimits and/or parameters may be amended, increased, decreased, removed or added bythe Company and may include, inter alia and without limited to: (i) limits overmaximum trading order size and number of orders.; (ii) limits over single trade exposureor the total exposure of the Client; (iii) a limitation over leverage in different Financialinstruments and more.

7.9 The Company is entitled, on its own discretion, to cancel or correct any transaction thathas been executed in connection with an error, system malfunction, breach of theAgreement by Client, etc. The Company's records will serve as decisive evidence to thecorrect exchange rates with relation to the Client's accounts.

7.10 Benefits - The Company may, from time to time, provide benefits or different grants tothe Trading Account. Such benefits may be offered for limited periods of times and/orsupply, and the Company shall be entitled to change, freeze, cancel etc. the benefit termsfrom time to time and on its sole discretion.

7.11 The Company shall be entitled, but not obligated to, send its Clients, either all of itsClients and either part of, notices and updates regarding an underlying asset tradingconditions, such as expiry dates on CFD contracts, and more. The Client shall have noclaim against the Company for not sending such notices or updates or regarding incorrectness of the information in such notice. It is the Client's ultimate responsibility tobe familiar with the trading conditions in assets he/she is trading on.

8. Orders types

8.1 Buy - An order to buy an instrument at a price available for trading on the TradingPlatform provided by the Company at the time of order.

8.2 Sell – An order to sell an instrument at a price available for trading on the TradingPlatform provided by the Company at the time of order.

8.3 Limit Order - A Buy or Sell order limited to a certain price. Any Limit Order has aspecific price limit determined by the Client (subject to Company's consent). A LimitOrder will be triggered if the Company’s Bid price (in the case of a sell order) is thesame or higher than the Limit price set by the Client or if the Ask price (in the case of a buy order) is the same or lower than the Limit price set by the Client. Once the tradingprice offered by the Company reached the price defined by the limit order, the limitorder shall be triggered, and the Company will seek to execute the order at that price. Ifthe Company cannot execute the order (due to price changes during the execution of theorder), the limit order will wait again for the Client's determined price and will betriggered again.

8.4 Stop Loss Order – is an order used for the closure of a transaction at such pricepredetermined by the Client whose intent is to limit the loss of the Client to apredetermined and knows amount. The Company does not obligate to perform theTransaction closure at the price predetermined by the Client due to changing marketconditions.

8.5 Take Profit Order –is an order for the closure of a transaction at a predetermined priceset by the Client whose intent is to close out the transaction when it achieved a certainprofit. As soon as the trading price offered by the Company reaches the target price ofthe limit order, the limit order shall be triggered and the Company shall seek to executethe order at the said price. In case the Company cannot execute the order (due to changesin trading prices during the order execution), the limit order shall wait again for the priceset by the Client and then executed.

8.6 Buy Stop Order – a future Buy order for purchasing an instrument at a price set by theClient that is higher than the price the Instrument is traded when the order is transmitted.The purchase shall be executed when the traded price of the instrument on the Platformshall reach the price set by the Client and if the order cannot be executed at the price setby the Client (due to the volatility of the instrument price) than the order shall beexecuted at the available trading price on the Trading Platform which is closest to theprice set by the Client and in which the order is applicable.

8.7 Sell Stop Order – a future Sell order for selling an instrument at a price set by the Clientthat is lower than the price the Instrument is traded when the order is transmitted. Thesell shall be executed when the traded price of the instrument on the Platform shall reachthe price set by the Client and if the order cannot be executed at the price set by theClient (due to the volatility of the instrument price) than the order shall be executed atthe available trading price on the Trading Platform which is closest to the price set bythe Client and in which the order is applicable.

8.8 The Company does not guarantee, among others: (a) to open a transaction at the pricedetermined by a stop order (b) execution of orders based on hedged transactions (twostop orders in opposite directions in the same currency or similarly correlatedcurrencies) (c) execution of transactions during slippage or spikes in the markets or ifmarket trading is interrupted or ceases all together (d) in instruments that do not have24 hour trading such as CFD's on indices, commodities such as oil and other currenciesand instruments, during holidays, weekends, news announcements, special eventsand/or economic and other crises.

8.9 Rollovers or Swaps- the Client's Transactions are automatically transferred ('rolledover') to the next business day, without the need for the Client's intervention. Suchrollovers are sometimes accommodated with overnight currencies interestdifferences that affect the Trading Account. In case that the Client has an openwww.ecncapital.com position on Wednesday at 24:00, the Client shall be charged with Swap commissionfor three days.

8.10 Margin call – Margin funds are the amounts of money the Client deposits as a guaranteeto hold positions. When a Client opens a position that its size is greater than the amountof money that was deposited by the Client, it means that the Client is making use ofleverage. The Client agrees to deposit to the Company, upon demand, additional fundsas required as guarantees, for securing losses in open or foreseeable. In case the Clientfails to meet such margin call, the Company may close the Client's position(s) at suchprices and times that may be less favorable to the Client and the Company shall haveno liability with the aforementioned.

8.11 Currently, and subject to changes in the future according to the Company's discretion,the Company shall have the right to close some or all of the Client's open positionsand/or limit the Client's ability to open additional position(s), in case the margin in theClient's account represents 50% or less of the Client's open positions value; It should notbe assumed that the Company shall always do so.

9. Data Usage and Privacy Protection

9.1 Due to the nature of the Company's services and relations with the Company’scustomers, The Company shall hold some information regarding the Client on theCompany data bases. All data collected, whether kept in physical or computerized form,shall be safeguarded by the Company in such order that will enable to maintain theClient's Privacy and access to the information shall be restricted according to the needto provide services to the Client and the Company's operation.

9.2 The Company shall be permitted to use and/or disclose the Client Information (a) Forinternal use, including with affiliated entities and/or service providers that are requiredfor the provisions of service to the Client and who are obliged to maintainconfidentiality; (b) As permitted or required by law; (c) For protection against or inorder to prevent actual or potential fraud or unauthorized transactions or unauthorizedbehavior (d) For computerized supervision over the Client's use of the Services, reviewand/or auditing and/or development and/or maintenance of the quality of Services; (e)to protect the Company's rights or obligation to observe any applicable law.

9.3 The Client hereby grants the Company his/her permission to make use of his/her userdetails in order to provide updates and/or information and/or promotion or marketinginformation, including through the Clients E-mail address. Cancellation of this consentshall be performed by providing written notice to the Company, and shall apply to newpublications that have not been sent.

9.4 The Client agrees that conversation and correspondence between the Company and theClient may be recorded.

9.5 The Company may pay or receive commissions from business associates, and may shareinformation with them.

9.6 The Company's Trading Platform, Website or other Services may make use of 'Cookies'.

10. Risk Disclosure – Client's financial knowledge10.1 The Company and anyone on its behalf do not advise the Clients with respect to theprofitability of any trading action or non-action, and with respect to any taxconsequences, nor do they manage the investments for the Clients. The Client warrantsthat he/she is the sole responsible person for making an independent appraisal andinvestigations of the risks of any Transaction. The Client is required to have priorknowledge of Forex and other Financial Instruments trading and to consider its actionsand the risks involved before making any action in the Trading Platform. The Clientacknowledges that he has read and understood the attached Risk Disclosure which is asinseparable part of this Agreement.

10.2 The Company may provide its Clients or publish factual market information regardinga specific underlying instrument as well as updating the Client with publication andanalysis of reputable third parties as well as general information such as technicalanalysis or well-known trading techniques. By doing so, the Company does notundertake or obligate as to the accuracy or completeness of the information or to thetrading implications or tax implications of a certain transaction. The provision of theinformation is incidental to the Client’s relationship with the Company and is providedsolely to enable the Client to make its own investment decisions.

10.3 The Company is under no obligation to assess the appropriateness of any Transactionfor the Client or to assess whether the Client has the necessary knowledge andexperience. All risks associated to the above are under the sole responsibility of theClient.

10.4 Trader's Tax Allocations- Any tax applying on the Client and/or results from the Client'strading activity, shall be under the Client's full and sole responsibility. The Client shallpersonally report and pay any tax liability he is obligated to. The Company serves as amediator only and does not collect or withhold tax for the Client. The Company'sreserve the right, if ordered by an official entity, to deduct tax from the Client anddeliver it to the proper tax authority.

11. Account Balances11.1 Account balances and statements are displayed within the Trading Platform. The Clientmay review open transactions and the state of the Margin funds at any time by accessingthe Trading Account on the Trading Platform of the Company and review reportscreated by the Company. The Company does not send printed reports to the Client.

11.2 Account Activity Reports – The Client should follow its Trading Account regularly.The Client should immediately report to the Company of any discrepancy and bring itto its attention. All trading certificates and monthly reports shall be considered at trueand acceptable by the Client if no complaint has been serviced upon their receipt.

12. Closing an Account and Termination of the Agreement

12.1 Either party may terminate this Agreement by providing a 10 (Ten) days written noticeof termination to the other Party. The Company may terminate this Agreementimmediately in case of

CLIENT AGREEMENT

1. Introduction

1.1 ECN Capital Global Ltd. is a Company that was incorporated in Trust CompanyComplex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. Theterms of this Agreement, along with the Company's Risk Disclosure Document (the"Agreement"), shall govern over the relations between the Client and the Companywith respect to the execution of foreign exchange, shares, indices and other financialinstruments rates ("Forex Trading"), through the Company's Trading Platform suppliedto the Client by the Company (the: "Trading Platform") and any other service providedby the Company to the Client (the "Company's Services").

1.2 The Company shall set rules and instructions relating to the Client's account and tradingconditions in the account, including, without limitation, regarding minimum accountsize, minimum account activity, fees, bonus terms, leverage limitations, rules relatingmargin requirements, and the Company shall be entitled to change the said rules andinstructions from time to time.

2. The Trading Account

2.1 The Company will open a Trading Account (the "Trading Account") for and on theClient's name, subject to the registration of the Client with the Company according tothe Company's requirements, including providing complete and accurate Clientinformation as required for the opening of the Account, and by presenting identificationdocuments including a copy of an identification certificate, passport, a copy of creditcard from both its sides, in case the deposit was made by credit card (Client may hidethe credit card number except for the last four digits, and may also hide the CVV code,at the back of the card), and a valid (recent three months) proof of address, by presentinga government vendor or other utility bill (water, city tax, electricity, 'etc.). The Clientauthorizes the Company to rely and act according to any request, guideline or othermessage appeared to be from the Client, without further examination by the Companyas to the authenticity, veracity, or the identity of the person who delivers or purportingto deliver such request, guidance or message. The Client undertakes to provide correctand complete information regarding itself. The Client must report to the Companyimmediately in case of any change in the information the Client had provided to theCompany.

2.2 The Company may, according to its sole discretion, act as a mediator and ensure thecoverage of Client transactions by different brokers, and also to act as a market makerand be the counterparty to the transaction of the Client. The Company shall not serve asan agent or trustee of the Client or on his behalf under any circumstances. The Clientacknowledges that he/she is acting for himself and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that he/she will be directly and fullyresponsible for performing his/her obligations under this Agreement, including withrespect of any Transaction made by or on behalf of the Client. The Company shall notaccept any other person as an indirect Client with respect of this Agreement and shallaccept no obligation to any such person unless otherwise expressly agreed in writing.

2.3 Usage of the Trading Platform is according to a limited, personal, non-transferable andexclusive license granted to the Client. The Client is not permitted to transfer and/orassign and/or allow another person to use the license and/or act in the Client's Accountto someone who is not a Client, and/or transfer the username and password to theAccount to any other person.

2.4 The use of the Trading System and Company's Services is personal permitted above theage of 18 only. The Client must ensure that there is no legal or other obstacle to its saidactivity, and that the Client has fulfilled any legal requirement needed for the use ofthese services.

3. Margin Funds

3.1 As a condition for performing transactions in the Company's Platform, the Client mustprovide to the Company sufficient margin to secure the results of the trading in theaccount. The Funds shall be used as for Transactions, including trading Losses,commissions and/or any other fee owed by the Client to the Company, which will beautomatically deducted from the Client's Trading Account. The Client's Funds shall notaccumulate any interest or any other rights (except for rollover or swaps interest, asdefined below). Trading in CFD’s (Contracts For Differences), binary options or othertrading methods that relate to an underline security, shall not grant the Client any rightto dividends, voting, allocation or other Benefits, but may be subject to adjustmentsaccording to financial events which affect the underlining security, such as distributionof dividends, stock price splits etc.

3.2 Deposits of funds to the Company is available by different methods of payment and indifferent currencies as agreed upon by the Company from time to time, and the TradingAccount shall be converted and managed in the Trading Platform in US Dollars or Euro,as applicable, according to the exchange rate determined by the Company according tothe such rates as published in the same day. The Company uses funds clearing andtransfer solutions of different suppliers, and may receive or transfer the funds through athird party, subject to the applicable law.

3.3 According to Anti-Money-Laundering laws and regulations, when making a deposit bybank transfer or credit card, the Client is required to use his/her own Bank account only.The Client must send the Company an authentic SWIFT confirmation, stating the fulldetails of the transmitting Bank account. Non-delivery of the SWIFT confirmation orin case the details do not match to those of Trading Account, may prevent the fundsfrom being deposited to the Trading Account.3.4 When making a funds transfer to the Company by cheque or other payment methodspermitted by the Company, the Client will be required to be identified according to theCompany’s regulations and the applicable law. The Company does not accept funds incash.

3.5 The Company will maintain and act in the Client Funds carefully. The Company shallhave the right to use Client's funds to 'cover' the Client's transactions, to cover theClient's obligations as a result of the Client's trading activity and/or on according to theCompany's sole discretion, subject to Company's contractual obligation to pay or refundmoney to the Client according to the terms of this Agreement. Determining the amountof Margin required and the Client's obligations towards the Company shall be accordingto the Company's sole discretion.

3.6 When withdrawing funds from the Trading Account by the Client, the withdrawal willbe made in the same currency and to the same account and/or credit card from whichthe funds were originally deposited, unless the Company has decided, according to itssole discretion, to transfer the funds to a different account.

3.7 The Client warrants and obligates that the Margin funds do not originate from anycriminal or illegal activity and are without violation of Anti Money Laundering lawsand regulations in the world.

3.8 The Company may, at any time and according to its sole discretion, block the activityin the Client's Trading Account if it suspects of any act of fraud, cheating, forgery and/orany breach of law or this Agreement by the Client.

3.9 The Client shall have no claim and/or demand against the Company and will not holdthe Company responsible for any delay and/or differences in rates custom at financialinstitutions such as credit card Company's banks.

3.10 Withdrawal requests should be submitted through the Company's website. TheCompany does not obligate to process withdrawal requested transmitted by any othermeans.

3.11 In case of a withdrawal request made by the Client, the Company shall transfer therequested amount (less any transfer fees, if applicable) within Seven (7) Business Daysfollowing the day the Client was identified by the Company subject to the Marginrequirements, as set by the Company, in full.

3.12 The Company is allowed to cancel the withdrawal request of the Client if, according tothe Company's discretion, the remaining balance (after the withdrawal) is not sufficientto guarantee the open trades in the Trading Account.

3.13 If there has been no trading activity in the Client's account, the Company will charge afee of 5% of the deposit amount upon the withdrawal of all of the deposit in addition toany other fees determined in this Agreement.

3.14 The Client hereby entitles the Company to collect from the Trading Account any feespayments owed to the Company. If the Client does not have sufficient funds to cover itsliabilities, the Client must deposit additional funds immediately upon demand by theCompany, otherwise the Company may close the transactions in the Client's Account.

3.15 The Company shall not provide physical evidence in relation to any Transaction. Profitsand/or losses will be considered as completed only after the Transaction is closed.

4. General Bonus Policy

4.1 The Company may, according to its sole discretion, grant the Client with a tradingbonus in his/her account. Unless otherwise determined, the terms of this chapter willapplied to the bonus.

4.2 The bonus will be calculated as a certain percentage of the deposit. The bonus willbe granted as onetime bonus with respect to such deposit and in such way asdetermined by the Company.

4.3 The bonus will become withdrawable subject to the execution of 1 traded Lot per5$ out of the bonus.

4.4 The Client may withdraw the bonus (in whole or in part) and/or profits from theTrading Account, provided that the Client has traded the full amount of Lotsrequired to make the Bonus eligible to withdrawable (the "Target"). Eachwithdrawal shall be first considered on the account of profits and then after from thebonus.

4.5 If the Client wishes to withdraw the deposit funds from the Trading Account beforeachieving the Target, the withdrawal would be made available, however the Bonusand the profits in the Trading Account will be cancelled and/or forfeited by theCompany.

4.6 The Company may change the terms of the Bonus at any time. Notice will beprovided to the Clients by E-mail or posting a message on the Company's website.

4.7 Any transaction during and after the Bonus period that breached the terms of thisAgreement, will result in the cancellation of the entire Bonus according to the solediscretion of the Company.

5. Social Trading

5.1 At the request of the Client, the Company shall activate “social trading” service in theClient’s account, as provided by a third party (herein after: “Sirix” or the “System”).

5.2 Sirix allows the Client to observe and activate in his account transactions accordingto actual transactions conducted by other Client of the Company and third parties(the "Traders"). Choosing the Trader is done exclusively by the Client, as well asthe commencement and termination of following the Trade's account.

5.3 There are two options to copy the Trader's transactions: (1) by a fixed volume,regardless of the volume of the original transaction; Or- (2) by allocating an amountavailable for copying, unrelated to the Trade's transaction, and the ratio between theTrader's transaction and the transaction executed in the Client's account shall bydetermined according to the ratio between the amount allocated to the Client'stransaction and the volume of the Trade's transaction.

5.4 The Client has, at any time, the option to independently close any transaction, oralternatively, through the trading room.

5.5 Trader's Rating or past performance or any other information published inconnection with the Trader, shall not be considered as advice, promise or guaranteeof future success. The Company may direct or present to the Client specific Traders,without the aforementioned being considered as a recommendation to follow anyspecific Trader and/or for making use of the System. The Company is not engagedin any arrangement with any of the Traders within the system.

5.6 Trading based solely on copying other Traders is not recommended.

5.7 The Company does not guarantee that all of the Trader's trading orders shall alwaysbe correctly copied and/or executed in the Client's account, including orders to openor close a transaction. Therefore, the Client should carefully monitor the opentransactions in his Account.

5.8 The Client is full responsible to perform ongoing monitoring over his Account andthe risk level to which the Account is exposed. The Company does not superviseover the performance of the service and/or Traders, trading methods being taken,trading volume, suspension of trading by the Trader etc., and is not obligated to alertthe Client of any risk; The full responsibility for the Transactions in the Client'saccount is on the Client, and the Client hereby waives, in advance, any claimsregarding the results and/or the scope of activity in his Account with respect tofollowing Traders.

5.9 The information, content and services in Sirix are offered "as is" and the Companyand its representatives shall not bear any responsibility for the services suitability tothe Client's needs or goals. The Company does not guarantee the quality andaccuracy of information, fitness for any purpose, completeness, reliability,integration and compatibility to any computer program on the Client's computer,and does not guarantee that use of the services will be uninterrupted and/or will beimmune to disorders and/or failures and/or malfunctions and/or any damage.

6. Fees & Charges

6.1 The Company charges a fee for the execution of Transaction on several FinancialInstruments offered by the Trading Platform. The Fee varies according to the Clientclassification by the Company. In addition, the Company derives revenue from thespread on Transactions (i.e. the difference between buy/sell price quotes offered bythe Trading Platform to the Client). It is the Client’s responsibility to decide whetheror not to trade at such prices.

6.2 Accounts defined as Islamic accounts shall be charged with a fee if hold opentransactions over two days. At each third night from the transaction opening theClient's account will be charged a commission of the Spread amount of the opentransaction.

6.3 Company may charge a commission for depositing of funds to the Trading Accountand withdrawals to the Client. The Company may introduce additional fees andcharges, and may change existing fees and charges at any time

6.4 Inactive Trading Account - In case the Client has not performed any trading activityin his/her Account for such period of time determined by the Company or the tradingactivity is at low level according to the Company's determined standards and/or ifthe Client does not hold the required minimum amount of funds in his TradingAccount as determined by the Company from time to time, the Company maycharge the Client with administrative fees of 5% or 25Euros or USD (according tothe currency in which the account is operated), whichever is higher. The time periodwhich will classify the Client's Account as inactive shall be calculated from the dateof opening or closing of the last transaction in the Client's account. The Companymay change the terms and rules under this section, including the duration by whichthe account will be defined as inactive, the level of activity in the account that shallbe classified as a low level of activity, minimal amount of funds that the Client isrequired to hold in the Trading Account, as well the size of commission for inactiveclassified account.

7. Trading Terms

7.1 The Trading Platform provided by the Company enables trading in exchange rates ofdifferent currencies, and CFD's of different Financial Instruments made available on theCompany's Platform (all herein: "Financial Instruments"). When using the TradingPlatform, the Client is being displayed with ask and bid prices for performingtransactions in Financial Instruments based on prices received from different financialinformation systems as inductive trading prices on the markets. For determining thetrading prices, the platform is making mathematical calculations according to knownand accepted formulas.

7.2 Transactions are automatically renewed every night at 22:00 GMT by the TradingPlatform server's clock that is automatically synchronized according to Cyprus time.

7.3 A Transaction is ended in any of the following events:

7.3.1 The Client initiated the closure of the Transaction

7.3.2 The Transaction rates meets with predefined stop loss, take profit or othercriteria set by the Client or the Company under the terms of this Agreement.

7.3.3 The Transaction expiry date has been reached, in certain transactions, as set bythe Client or the Company, according to the case.

7.3.4 The Client does not have sufficient funds in the Account therefore theCompany shall perform an enforced closing of Transactions, according tothe Company's sole discretion, for purposes of compliance with the tradingmargin requirements set by the Company to the Client.

7.4 The Client may submit orders via the Trading Platform that was supplied to the Clientby the Company or by written orders (including fax), E-mail or via other electronicinstrument or verbally (including via telephone), unless the Company informs the Clientthat a particular order can only be submitted in a particular way.

7.5 The Company does not permit execution of opposite Transactions simultaneously,Transactions based on market differences, during information publications(macroeconomic notices), prices freeze, suspension of trading, price or timemanipulation transactions, including illegal scalping and exploitation of arbitragebetween different systems, as well as Transactions found by the Company as an attemptto perform such forbidden Transactions.

7.6 The Client authorizes the Company to rely and act according to any order, request andinstruction provided by the Client or any person authorized on the Client's behalf,without further enquiry on the part of the Company as to the authenticity, correctnessof authority or identity of the person providing or purporting to provide such order.

7.7 If the Client requests to cancel any order, the Company can only cancel such orders ifit has not already acted upon such order, or if otherwise agreed by the Company.

7.8 The Company has the right, but not the obligation, to set limits and/or certain parametersin relation to the Client's account and the trading orders, at its absolute discretion. Suchlimits and/or parameters may be amended, increased, decreased, removed or added bythe Company and may include, inter alia and without limited to: (i) limits overmaximum trading order size and number of orders.; (ii) limits over single trade exposureor the total exposure of the Client; (iii) a limitation over leverage in different Financialinstruments and more.

7.9 The Company is entitled, on its own discretion, to cancel or correct any transaction thathas been executed in connection with an error, system malfunction, breach of theAgreement by Client, etc. The Company's records will serve as decisive evidence to thecorrect exchange rates with relation to the Client's accounts.

7.10 Benefits - The Company may, from time to time, provide benefits or different grants tothe Trading Account. Such benefits may be offered for limited periods of times and/orsupply, and the Company shall be entitled to change, freeze, cancel etc. the benefit termsfrom time to time and on its sole discretion.

7.11 The Company shall be entitled, but not obligated to, send its Clients, either all of itsClients and either part of, notices and updates regarding an underlying asset tradingconditions, such as expiry dates on CFD contracts, and more. The Client shall have noclaim against the Company for not sending such notices or updates or regarding incorrectness of the information in such notice. It is the Client's ultimate responsibility tobe familiar with the trading conditions in assets he/she is trading on.

8. Orders types

8.1 Buy - An order to buy an instrument at a price available for trading on the TradingPlatform provided by the Company at the time of order.

8.2 Sell – An order to sell an instrument at a price available for trading on the TradingPlatform provided by the Company at the time of order.

8.3 Limit Order - A Buy or Sell order limited to a certain price. Any Limit Order has aspecific price limit determined by the Client (subject to Company's consent). A LimitOrder will be triggered if the Company’s Bid price (in the case of a sell order) is thesame or higher than the Limit price set by the Client or if the Ask price (in the case of a buy order) is the same or lower than the Limit price set by the Client. Once the tradingprice offered by the Company reached the price defined by the limit order, the limitorder shall be triggered, and the Company will seek to execute the order at that price. Ifthe Company cannot execute the order (due to price changes during the execution of theorder), the limit order will wait again for the Client's determined price and will betriggered again.

8.4 Stop Loss Order – is an order used for the closure of a transaction at such pricepredetermined by the Client whose intent is to limit the loss of the Client to apredetermined and knows amount. The Company does not obligate to perform theTransaction closure at the price predetermined by the Client due to changing marketconditions.

8.5 Take Profit Order –is an order for the closure of a transaction at a predetermined priceset by the Client whose intent is to close out the transaction when it achieved a certainprofit. As soon as the trading price offered by the Company reaches the target price ofthe limit order, the limit order shall be triggered and the Company shall seek to executethe order at the said price. In case the Company cannot execute the order (due to changesin trading prices during the order execution), the limit order shall wait again for the priceset by the Client and then executed.

8.6 Buy Stop Order – a future Buy order for purchasing an instrument at a price set by theClient that is higher than the price the Instrument is traded when the order is transmitted.The purchase shall be executed when the traded price of the instrument on the Platformshall reach the price set by the Client and if the order cannot be executed at the price setby the Client (due to the volatility of the instrument price) than the order shall beexecuted at the available trading price on the Trading Platform which is closest to theprice set by the Client and in which the order is applicable.

8.7 Sell Stop Order – a future Sell order for selling an instrument at a price set by the Clientthat is lower than the price the Instrument is traded when the order is transmitted. Thesell shall be executed when the traded price of the instrument on the Platform shall reachthe price set by the Client and if the order cannot be executed at the price set by theClient (due to the volatility of the instrument price) than the order shall be executed atthe available trading price on the Trading Platform which is closest to the price set bythe Client and in which the order is applicable.

8.8 The Company does not guarantee, among others: (a) to open a transaction at the pricedetermined by a stop order (b) execution of orders based on hedged transactions (twostop orders in opposite directions in the same currency or similarly correlatedcurrencies) (c) execution of transactions during slippage or spikes in the markets or ifmarket trading is interrupted or ceases all together (d) in instruments that do not have24 hour trading such as CFD's on indices, commodities such as oil and other currenciesand instruments, during holidays, weekends, news announcements, special eventsand/or economic and other crises.

8.9 Rollovers or Swaps- the Client's Transactions are automatically transferred ('rolledover') to the next business day, without the need for the Client's intervention. Suchrollovers are sometimes accommodated with overnight currencies interestdifferences that affect the Trading Account. In case that the Client has an openwww.ecncapital.com position on Wednesday at 24:00, the Client shall be charged with Swap commissionfor three days.

8.10 Margin call – Margin funds are the amounts of money the Client deposits as a guaranteeto hold positions. When a Client opens a position that its size is greater than the amountof money that was deposited by the Client, it means that the Client is making use ofleverage. The Client agrees to deposit to the Company, upon demand, additional fundsas required as guarantees, for securing losses in open or foreseeable. In case the Clientfails to meet such margin call, the Company may close the Client's position(s) at suchprices and times that may be less favorable to the Client and the Company shall haveno liability with the aforementioned.

8.11 Currently, and subject to changes in the future according to the Company's discretion,the Company shall have the right to close some or all of the Client's open positionsand/or limit the Client's ability to open additional position(s), in case the margin in theClient's account represents 50% or less of the Client's open positions value; It should notbe assumed that the Company shall always do so.

9. Data Usage and Privacy Protection

9.1 Due to the nature of the Company's services and relations with the Company’scustomers, The Company shall hold some information regarding the Client on theCompany data bases. All data collected, whether kept in physical or computerized form,shall be safeguarded by the Company in such order that will enable to maintain theClient's Privacy and access to the information shall be restricted according to the needto provide services to the Client and the Company's operation.

9.2 The Company shall be permitted to use and/or disclose the Client Information (a) Forinternal use, including with affiliated entities and/or service providers that are requiredfor the provisions of service to the Client and who are obliged to maintainconfidentiality; (b) As permitted or required by law; (c) For protection against or inorder to prevent actual or potential fraud or unauthorized transactions or unauthorizedbehavior (d) For computerized supervision over the Client's use of the Services, reviewand/or auditing and/or development and/or maintenance of the quality of Services; (e)to protect the Company's rights or obligation to observe any applicable law.

9.3 The Client hereby grants the Company his/her permission to make use of his/her userdetails in order to provide updates and/or information and/or promotion or marketinginformation, including through the Clients E-mail address. Cancellation of this consentshall be performed by providing written notice to the Company, and shall apply to newpublications that have not been sent.

9.4 The Client agrees that conversation and correspondence between the Company and theClient may be recorded.

9.5 The Company may pay or receive commissions from business associates, and may shareinformation with them.

9.6 The Company's Trading Platform, Website or other Services may make use of 'Cookies'.

10. Risk Disclosure – Client's financial knowledge10.1 The Company and anyone on its behalf do not advise the Clients with respect to theprofitability of any trading action or non-action, and with respect to any taxconsequences, nor do they manage the investments for the Clients. The Client warrantsthat he/she is the sole responsible person for making an independent appraisal andinvestigations of the risks of any Transaction. The Client is required to have priorknowledge of Forex and other Financial Instruments trading and to consider its actionsand the risks involved before making any action in the Trading Platform. The Clientacknowledges that he has read and understood the attached Risk Disclosure which is asinseparable part of this Agreement.

10.2 The Company may provide its Clients or publish factual market information regardinga specific underlying instrument as well as updating the Client with publication andanalysis of reputable third parties as well as general information such as technicalanalysis or well-known trading techniques. By doing so, the Company does notundertake or obligate as to the accuracy or completeness of the information or to thetrading implications or tax implications of a certain transaction. The provision of theinformation is incidental to the Client’s relationship with the Company and is providedsolely to enable the Client to make its own investment decisions.

10.3 The Company is under no obligation to assess the appropriateness of any Transactionfor the Client or to assess whether the Client has the necessary knowledge andexperience. All risks associated to the above are under the sole responsibility of theClient.

10.4 Trader's Tax Allocations- Any tax applying on the Client and/or results from the Client'strading activity, shall be under the Client's full and sole responsibility. The Client shallpersonally report and pay any tax liability he is obligated to. The Company serves as amediator only and does not collect or withhold tax for the Client. The Company'sreserve the right, if ordered by an official entity, to deduct tax from the Client anddeliver it to the proper tax authority.

11. Account Balances11.1 Account balances and statements are displayed within the Trading Platform. The Clientmay review open transactions and the state of the Margin funds at any time by accessingthe Trading Account on the Trading Platform of the Company and review reportscreated by the Company. The Company does not send printed reports to the Client.

11.2 Account Activity Reports – The Client should follow its Trading Account regularly.The Client should immediately report to the Company of any discrepancy and bring itto its attention. All trading certificates and monthly reports shall be considered at trueand acceptable by the Client if no complaint has been serviced upon their receipt.

12. Closing an Account and Termination of the Agreement

12.1 Either party may terminate this Agreement by providing a 10 (Ten) days written noticeof termination to the other Party. The Company may terminate this Agreementimmediately in case of